I post this one with all appropriate snark and commentary.

Maybe in NYC Barbara can still move $10 million dollar penthouses with ease, but in the rest of the country, there’s a very good reason your house isn’t selling.

Hey Barbara, how about reason number 9: Your house is unsellable cause no one out there is buyin right now!

8 reasons why your house is unsellable (MSNBC.com)

1. Go contrarian: Wall Street is biased, trust no one
The vast majority of business, economic and stock-market forecasters are not looking out for your interests. They’re biased, favoring their employers on Wall Street, Corporate America and Washington. The past few years they made huge bucks hyping the credit/subprime bubble. Witness their bonuses. In 2008 their rosy forecasts will continue. They can’t help misleading you, it’s in their DNA: “Greed is good.”
2. Do-it-yourself: You’ll make fewer mistakes
Remember Buddha’s advice: “Believe nothing, no matter where you read it or who has said it, not even if I have said it, unless it agrees with your own reason and your own common sense.” You are the only “expert” you can trust: All brokers and money managers, newspapers, magazines, online and newsletter pundits, all television anchors, and every other special-interest guru is “selling” you something. Don’t buy “it.” (more…)

Standard & Poor’s/Case-Shiller home price index dropped 6.7 percent in October, the largest monthly drop recorded since 1991.

“No matter how you look at these data, it is obvious that the current state of the single-family housing market remains grim,” said Robert Shiller, who helped create the index, in a statement.

• Atlanta -0.7%
• Boston -3.6%
• Charlotte +4.3%
• Chicago -3.2%
• Cleveland -4.5%
• Dallas -0.1%
• Denver -1.8%
• Detroit -11.2%
• Las Vegas -10.7%
• Los Angeles -8.8%
• Miami -12.4%
• Minneapolis -5.5%
• New York -4.1%
• Phoenix -10.6%
• Portland +1.9%
• San Diego -11.1%
• San Francisco -6.2%
• Seattle +3.3%
• Tampa -11.8%
• Washington -7.0%

Source: Standard & Poor’s
Data through October 2007

October Home Prices Post Record Decline (AP)

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